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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Jan Robert Wolansky who wrote (13539)3/20/1998 2:58:00 AM
From: Doug R   of 79284
 
Jan,

Rather than the stochRSI, I use the SMI which is similar. I think the best indication of technical strength right here is the acceleration of the uptrend in most of the short term indicators at a time when the price has been basically flat. That's one thing I go over in the seminar, anyway.

The resistance line on the 2, 1, 2 SMI is at a level that, if broken, would point to a large move on high volume of the type most associated with a quite positive press release or some type of fundamental step forward. This activity is not yet technically confirmed but that acceleration in the short term technicals is very compelling.

Doug R
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